Corporate Presentation 201 8 Outline Overview Financial Summary - - PowerPoint PPT Presentation

SIAM FUTURE DEVELOPMENT PUBLIC CO., LTD.

Corporate Presentation 2018

Overview Financial Summary

Project Update

2

Outline

Founded:

1994

Staff:

78

Centers:

19

Vision “Unlike other developers,

we create a place for people

first then for business. “

3

Overview

1994

Established “Siam Future Development”

1995 Opened first open-air shopping center ‘Bangbon’ 1996 Opened ’Prachautid’ and ‘Sukaphiban 3’ 1998 Opened ‘Sukhumvit 71’ 2000 Opened 2 Convenient centers and 8 B-quik centers 2002 Listed in MAI and

• pened ‘Thonglor’

2003 Listed in SET PP to Major Cineplex Group and

• pened ’Thungmahamek’

2004 Opened ’Changwattana’, ’Ladprao120’, ‘Chachoengsao’, ‘Piyarom Place’ and ’J Avenue’ 2005 Opened ’Wanghin 2’, ’Petchkasem’ and ’Ekkamai’ 2006 Completed ‘Changwattana’, ‘La-villa’ and ’Esplanade’ 2007 Opened ’Pattaya’ and ‘Kao-yai’ 2008 Opened ‘Nawamin’ and ‘Ratchayothin’ 2009 Opened ‘Nawamin City Avenue’ 2011

• Open 1st IKEA Store in Thailand
• Open ‘Nawamin Festival Walk’

2012 Open ‘Megabangna ‘

4

Development Timeline

2017

• Open “Plot H at Megabangna”
• Open ’Marketplace Nanglinchee

Phase 1’ 2018

• Open ‘Plot A at Megabangna’
• Open ‘Marketplace Nanglinchee

Phase 2’ 2019

• Open ‘Marketplace Dusit’
• Open ‘Marketplace Sukabhiban 3

Renovation’

Format 2016 2017 2018 Average size (sq.m.)

• No. of

centers GLA (sq.m.) No. of centers GLA (sq.m.)

• No. of

centers GLA (sq.m.) Lifestyle Center 6 77,709 6 77,709 6 77,984 12,000 Power Center 3 67,217 3 67,217 3 70,076 20,000 Entertainment Center 1 43,241 1 43,241 1 42,733 42,000 Neighborhood Center 7 38,389 7 42,000 6 43,164 7,000 Convenience Center 2 1,178 2 1,178

• Automotive

Service center 2 829 2 997 2 871 400 Super Regional 1 180,000 1 191,216 1 191,216 190,000 Total 22 408,563 22 423,558 19 426,720 Occupancy rate 98% 93% 92%

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Leasable Area and Occupancy

Note: GLA = Gross Leasable Area

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Our Portfolio

Power Center:

Petchkasem, Ekkamai, Chachoengsao

Entertainment Center:

Esplanade

Neighborhood Center:

Market Place Thonglo, Sukaphiban 3, Nawamin, Bangbon, Prachautid

Super Regional Mall:

Mega Bangna

Lifestyle Center:

J Avenue, La Villa, Nawamin City Avenue, The Avenue Changwattana, Pattaya Avenue, The Avenue Ratchayothin

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Shareholding Structure

Witoonchart Group 43% Suttapong Group 29% Pojkasemsin Group 11% Jantaraprapa Group 17%

Management 23% Free float 51% Major Cineplex Group PLC. 26%

Foreigners 34% Retail 53% Local Institution 13%

Number of shares: 1,776.61 Million

Source: Shareholder list as of Dec 28, 2018

Overview Financial Summary

Project Update

8

Outline

14,422 14,920 17,240 19,375 5,516 5,289 6,095 6,783 8,906 9,632 11,144 12,592 5,000 10,000 15,000 20,000 25,000 Y2015 Y2016 Y2017 Y2018 Million Baht Assets Liabiilites Equity

9

Balance Sheet

(Million Baht)

Remarks: * Fair value adjustment on Investment Property= Depreciation & Amortization + Gain (Loss) from revaluation

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Income Statement (Management Account)

2015 2016 2017 2018 1 Recurring Revenue 1,429 1,431 1,414 1,455 2 Cost of rental & service (909) (911) (932) (990) 3 Gross profit 520 520 482 464 4 SG&A (233) (238) (242) (256) 5 EBIT 287 282 239 208 6 Interest expenses (96) (75) (71) (75) 7 Income tax (38) (46) (22) (29) 8 Minority (21) (18) (17) (17) 9 Recurring profit (excl. Megabangna) 131 143 130 88 10 Profit from joint venture 201 281 370 394 11 Total recurring profit 332 424 499 482 %growth (YOY) 30% 28% 18% (3%) Total recurring profit per share (Baht/share) 0.20 0.24 0.28 0.27 12 Add: Fair value adjustment on IP*– SF (after tax) 679 246 253 343 13 Fair value adjustment on IP– Megabangna (49%) 397 294 1,088 828 14 Net profit 1,408 964 1,841 1,654 Earnings per share (EPS) (Baht/share) 0.85 0.54 1.04 0.93 Average Occupancy Rate (%) 98% 98% 93% 92% Average number of shares (million shares) 1,665 1,777 1,777 1,777 Dividend per share (Baht/share) 0.15 0.20 0.25 0.30 (หุ้นปันผล 5:1 และเงินปันผล 0.10) Dividend Yield (%) 2.40% 3.25% 3.21% 2.72%

Profit Structure

Megabangna’s Recurring Profit

As of 31 Dec 2018 11

Others, 1% Petchkasem , 2% La Villa, 3% J Avenue, 3% Esplanade, 8% 89 240 393 474 634 813 879

• 100

200 300 400 500 600 700 800 900 1,000

2012 (8m) 2013 2014 2015 2016 2017 2018

Million Baht

Megabangna, 83%

Rental Structure

15% 85%

by Revenue

21% 79%

by GLA

As of 31 Dec 2018

Revenue Sharing

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Fixed Rent Fixed Rent Revenue Sharing

Costs Breakdown

22%

Utilities 32%

29%

Depreciation & Amortization

Operating Land Rent

17% 19% 57%

5%

19%

Depreciation

SG&A Breakdown

As of 31 Dec 2018

Personnel Marketing Admin

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As of Dec-17

Total Debt = 2,221 million Baht Average interest rate = 3.76%

As of Dec-18

14

Total Debt = 2,536 million Baht Average interest rate = 3.89%

Debt Structure

Short-term loans 34% Long-term loans 27% Bond 39%

Debts Structure

0.22 0.16 0.20 0.20 0.1 0.2 0.3 Y2015 Y2016 Y2017 Y2018

Interest Bearing Debts to Equity Ratio

As of Dec 18

INDEX 2015 2016 2017 2018 SET Index 1,288 1,543 1,754 1,564 SF (stock price) 6.25 6.15 7.80 7.35 Market Cap (MB) 11,104 10,926 13,858 13,058 Dividend Summary Par Value (Baht) 1.00 1.00 1.00 1.00 Dividend Paid (MB) 266 355.3 444.2 355.3* Dividend/share (Baht) 0.15 0.20 0.25 0.30 (หุ้นปันผล 5:1 และ เงินปันผล 0.10)* Dividend Payout Ratio 80% 84% 89% 111%*

* Dividend for year 2018 will be approved in AGM 2019

Statistics as of 11 Feb 19* Stock Price 7.85 Par Value (Baht) 1.00 Share Capital (M shares) 1,776.61 P/E (times) 7.56 Market Cap (MB) 13,946 P/BV (times) 1.3

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Stock Information and Dividend

* Source: www.set.or.th

Overview Financial Summary

Project Update

16

Presentation Agenda

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* Subject to change upon future situation

Expansion Plan*

224,120 231,795 229,600 229,600 228,906 228,563 228,563 225,842 224,048 224,096 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 6,500 6,500 6,500 11,216 11,216 11,216 4,956 4,956 18,000 18,000 6,540 98% 97% 97% 94% 93% 98% 98% 93% 92% 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (F) GLA (sq.m.) Existing Mega Bangna Nanglinchee P.1 Mega Bangna Expansion (Plot H) Nanglinchee P.2 Mega Bangna Expansion (Plot A) Dusit Occupancy rate

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* Subject to change upon future situation

Project Objective Existing GLA (sq.m.) Future GLA (sq.m.) CAPEX (mil baht) Target Opening Date SF

• Nanglinchee

(expansion) Neighborhood Center 2,900 11,456 660 Phase 1: Nov-17 Phase 2: Dec-18

• Sukapiban 3

(renovation) Neighborhood Center 7,081 7,129 185 Jan-19

• Dusit

Neighborhood Center

• 6,540

295 Feb-19

• Thonglor 4

(redevelopment) Mixed Use 3,600 20,000 1,000 Y2021 Sub-Total 13,581 45,125 2,140 Mega Bangna & Megacity

• Plot A (land lease
• nly)

Outdoor entertainment + Leisure for family

• 18,000

150 Jan-19 to Apr-19

• Plot D

Edutainment

• 8,500

350 Feb-19 to Jun-19

• U-Turn bridge
• 95

Q4-19 Sub-Total

• 26,500

595 Total 13,581 71,625 2,735

Expansion Plan*

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Marketplace Nanglinchee (Expansion)

Shopping centre format Neighborhood center GLA 11,000 sq.m. Anchor Tops Market, Homepro S Target Opening Phase 1: Nov-17 Phase 2: Dec-18

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Market Place Dusit

Shopping centre format Neighborhood center GLA 6,540 sq.m. Anchor Tops Market Target Opening Feb-19

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Marketplace Thonglor4 (Redevelopment)

Shopping centre format Mixed Use Project GLA 20,000 sq.m. Anchor Retail and Office Target Opening Y2021

23

Land Area 254 Rais (406,400 sq.m.) Building Area 400,000 sq.m. Leasable Area 191,216 sq.m. Opening 5 May 2012 Tenants

• In line units 511 shops
• Common area units 355 shops

Parking Space 8,160 cars & 1,587 motorcycles

Megabangna, Fact Sheet

Anchors: 102,000 sq.m.

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33% 14% 53%

Megabangna, Tenants Mix

Mini-anchors: 26,500 sq.m. Tenants: 62,716 sq.m.

Megabangna Transformation toward Megacity

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26

Bangna-trad Road

Mega Bangna & Mega City: Land Plot Summary

27

Project Location Plot H Land Area 6.5 Rai Leasable Area 11,216 sq.m. Parking Space 1,100 cars Opening Dec-17

Retail Expansion and Parking Deck

Plot H: Tenants

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Project Location Plot A Leasable Area 18,000 sq.m. Tenants Marvel Experience, Didsayasarin Int’School, Movement Playground Opening Jun-18 to Apr-19

Retail Expansion – Outdoor Entertainment & Leisure

Mega Bangna Community Park

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Project Location Plot D Leasable Area 8,500 sq.m. Tenants Harborland, Clayworks, Kumon, Bangkok Dance Opening Feb-19 to Jun-19

Retail Expansion – Edutainment

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New U-Turn bridge will connected with Burapha Withi Expressway ramp CAPEX: 95 MB Target Opening: Quarter 4-2019

New U-Turn Bridge

Existing U-Turn Bridge New U-Turn Bridge

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For Further Information

Contact: Investor Relations Team Tel (662) 660-9464 Tel (662) 660-9465 Fax (662) 660-9020 E-mail sajjapong@siamfuture.com pakorn@siamfuture.com Website www.siamfuture.com